Materials company 3M Co. agreed to sell its 156-acre campus at Ranch-to-Market Roads 620 and 2222in Austin to private investment firm World Class Capital Group, which is also headquartered in Austin. The transaction is expected to close in Q4 2017. The sales price for the acreage, and the one-million-square feet of office space, was undisclosed.

The campus delivered in the late 1980s.

Employees will be relocated to a new building in spring 2019, which will be in the Tech Ridge area of Northeast Austin. A 3M spokesperson told the Austin American-Statesman that construction on the new building would begin in late 2017.